Kaba reports profitable growth in demanding market environment
Kaba Group increased its net sales in the 2011/2012 financial year (to 30 June 2012) by 6.2% in local currency terms. Organic growth accounted for 2.6%, while 3.6% was due to acquisitions made in the prior year. After conversion into Swiss francs, sales came to CHF 947.5 million (prior year CHF 945.2 million). Even though the principal currencies (mainly US dollar and euro) stabilized against the Swiss franc, negative currency effects still reduced sales by - 5.6%, or CHF - 53.0 million (prior year - 9.1%, or CHF - 86.6 million).
EBITDA margin maintained
Despite a challenging market environment, EBITDA reached CHF 151.2 million, and the EBITDA margin was held at 16.0% (prior year CHF 150.9 million, 16.0%). Profit from continuing operations increased to CHF 85.5 million (prior year CHF 54.3 million). The prior year figure includes one-time expenditures of CHF - 30.8 million. Taking discontinued operations into account, Kaba achieved consolidated net profit of CHF 88.3 million (prior year CHF 221.6 million). The prior-year figure includes a one-time amount of CHF 167.3 million from the disposal of the Door Automation division.
Reflecting on the past financial year, CEO Riet Cadonau said: "In a difficult environment we have achieved profitable growth in local currency. At the same time we have adjusted our divisional structures and initiated growth and efficiency programmes. The course has been set for the future."